Compound (COMP)
What is it?
Compound is based on a DeFi protocol built on the Ethereum blockchain, using smart contracts to automatically facilitate the exchange of cryptocurrencies and stablecoins. With Compound, there are two roles – borrowers and lenders. Borrowers and Lenders form pools of decentralised liquidity which removes the need for intermediaries, and market prices are determined by supply and demand on the platform.
Why trade it?
For many traders, the lack of intermediaries is in itself a strong draw. Coupled with Ethereum compatibility and a strong global reputation, it’s easy to see why it’s popular.
Did you know…
Compound was founded by veteran entrepreneurs Geoffrey Hayes and Robert Leshner.